Most of these companies weren’t filling some vital market need. Rather, as the Journal, SVB was beloved for its willingness to offer “banking services to startups that often weren’t profitable, in some cases didn’t have a product, and would otherwise have a hard time getting a line of credit or a loan from a larger bank.” One tech entrepreneur provided law.com a more scathing description of SVB’s products: “They’re basically subprime business loans.
What inspires a bank to disregard risk and shower money on products or services that nobody is clamoring to buy? One answer is easy money and misguided regulation, which washed dollars into the economy even as it pushed banks like SVB to load up on sovereign debt, lulled by a Federal Reserve-fed belief that interest rates would stay near zero forever. The other? Washington handouts, via President Biden’s effort to engineer a climate industry that otherwise wouldn’t exist.
She argues that the same Democrat-led government that funded failed enterprises like Solyndra in the 2009 “stimulus” — managed by then Vice President Joe Biden — is making the same mistake again.in 2020, Biden took personal credit in 2009 for an investment by Fisker Automotive in Delaware, backed by the stimulus, to produce electric cars. The venture failed without one car being produced.on Sirius XM Patriot on Sunday evenings from 7 p.m. to 10 p.m. ET .
And that is why Biden bailed them out
First we had 'to big to fail', now thanks to Woke policies like DEI we now have 'To dumb to fail.'
And we’re bailed out
The marketplace always works….eventually.
Call the tune, pay the piper.
So why are we bailing out the rich?
Scams
Hence the illegal bail out
Go woke go broke, sadly it goes for our country as well.
Sorry, not sorry.
Why are we NOT surprised
Are you seeing a pattern yet? Climate change = money grab, it has nothing to do with the planet. Solyndra filed for bankruptcy in 2011 and the U.S. Department of Energy loaned the company $535 million, resulting in a $528 million loss for the government.
But don't call it a 'bailout'.
No wonder the federal gov is bailing them out then
Ahh,, just another scam like ftx. they stole all the money. these globalists cannot be trusted.
THIS WAS 2009 Folks! YOU are still believing the LIE
Well imagine that this is why you shouldn’t lie bad things happen. I am sorry I am not buying into the whole climate BS. I read an article the the Colorado river is filling up. I think our planet fixes itself like our bodies.
Check if the DA or Mayor or City of New York has any relationship to SVB? For a criminal indictment on them
Duh🤦🏼♀️
Maybe since now we can all clearly see an issue, can we do something? Anyone? elonmusk realDonaldTrump scrowder benshapiro MattWalshBlog SenTedCruz GovJanetMills? Comments on this?
Shocking they went under
Hoaxers & losers
Wow companies going woke to broke
I hope they all go broke!
Climate Change has been exposed as greatest financial fraud scheme in world history!
This country is not ready.instead of a woke agenda put money in science.instead of other countries work on our Take fed government out of education and put god in.problems solved
😂🤣🤣
Are the majority of the U.S. companies identified with climate change, biotech and other ESG facets located in California?
Climate lies don’t seem to be profitable after all.
Go Woke.....Go Broke.
Half down; the other half to go.
Did VivekGRamaswamy do any banking with them? Did he have any perverse incentives to wipe out competitors? Don’t trust these pharma ppl one iota
Keep listening to the liberals, globilists, fake climate change, there will be only two class system wealthy, and the poor, and you have to stop it now before it's too late.
Gangster Banksters
So much that the NEW GREEN DEAL! 😅
How we are forced to fund the DNC.
Probably half of these companies will be gone in 6-12 months.
Exactly why they received a bailout.
Ahh, the real reason for the bailout has now been revealed, to protect the narrative. They always protect the narrative.